Blockchain vs Traditional Global Withdrawals

As I was traveling to China again I made sure that I’m not without cash this time.. I set up a bitcoin based US debit card and a Hong Kong based RMB debit card and I had my US bank card. Needless to say, all these cards were fully KYC/AML compliant in their jurisdictions and … Read more

Paypal Bitcoin Device Patent

There is a lot of buzz around Paypal filing a patent application for a device that accepts bitcoin as well as currencies. Whether the move is defensive or supportive of public blockchains, Paypal entering the dialog in earnest can only be useful. Most traditional fintechs have been very quiet until late. Paypal moves in the … Read more

Goldman Blockchain Use Cases

A few days ago Goldman Sachs published a very thorough analysis of 7 blockchain based use cases. What I liked about the research is that instead of covering a laundry list of possible blockchain projects, it focuses on specific and not far fetched scenarios with a lot of economic data, much deeper than any blockchain … Read more

Blockchain vision from the Post Office

Most annoucements around blockchains tend to come from startups and consultants positioning their products or services. It is always reflreshing to see an industry vision. This time from the US Postal Service, arguable of the best articulated blockchain vision – without the usual banking industry disclaimers about bitcoin  – getting into all areas important for … Read more

Do not make Blockchains into a fancy database

As blockchain is becoming a corporate buzzword, there is a real risk of forgetting what the revolutionary idea is actually about. No, it is not about a database or IT modernization – as most banks have single-mindedly set out to frame it. Blockchain as a distributed ledger or irrefutable record has very little innovation in it. The … Read more

Setting Up Blockchain Farm as DAO

We are in the process of loading our experiment onto the Ethereum blockchain as a DAO (decentralized autonomous organization). We are creating the appropriate smart contract and it will eventually be public along with the ongoing projects around value measurement in blockchain-based projects and systems.

Simple Ethereum Smart Contract for Newbies

We all have friends who ask us how Bitcoin works and it is typically easy to explain. People quickly grasp the concept if you show them an app like Circle that looks like Paypal/Venmo but runs much cheaper and faster. It hides the inner workings of the blockchain and later I can show them a proper bitcoin wallet with … Read more

Cashless in China – How Bitcoin Helped

A year ago I was traveling to China and I lost my wallet just before the plane took off from New York. That ominous event taught me about the limitations of fiat currencies. After landing in China, I had no credit card, no debit card, only a passport. And the unintended journey began to be on a business trip … Read more

SWIFT Hacked Again

Another lesson learned in centralized, so called highly secure, mission critical infrastructure (etc) systems as SWIFT is hacked again. Literally every major bank, consulting firm and technology company had a role in creating this system one time or another. I hope at least we rest the case that permissioned, regulated bank-controlled systems are not inherently … Read more

Impressions from Consensus 2016

The blockchain world is splitting into Doers and Talkers. Many of the projects driven by banks, consultants and the consortia are basically proofs of concepts or defensive moves without any firm goals for production systems carrying significant asset value (billions or more). Hyperledger and R3 as of now have no such production project is live. Ripple … Read more